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Global Boom Lifts Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Boom Lifts
What Is the Projected Growth of the Boom Lifts Market?
Over the past few years, the market size for boom lifts has experienced robust growth. It is predicted to rise from $11.8 billion in 2024 to a substantial $12.69 billion in 2025, signifying a compound annual growth rate (CAGR) of 7.5%. This growth during the past years is attributed to various sectors like construction and infrastructure development, maintenance and repair operations, and demands from the film and entertainment industry. Other factors such as urbanization trends and operations in warehouses and distribution centers are also contributing factors to this growth.
The market size of boom lifts is anticipated to experience significant enhancement in the coming years, growing to a value of $17.02 billion by 2029, with a compound annual growth rate (CAGR) of 7.6%. Several factors will influence this growth during the forecast period, including the rise in renewable energy schemes, upgrades in telecommunication networks, increased emphasis on workplace safety, the expansion of e-commerce and logistics, and the advancement of smart city projects. The period is also projected to see trends such as the design of all-terrain boom lifts, integration of hybrid power systems, improvements in outreach and working heights, the application of lithium-ion battery technology, and a focus on enhancing operator comfort and ergonomics.
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What Are the Different Boom Lifts Market Segments?
The boom lifts market covered in this report is segmented -
1) By Type: Articulating Boom Lifts, Telescopic Boom Lifts, Straight Boom Lifts, Genie Boom lifts, Towable Boom Lifts
2) By Movement Type: Mobile, Fixed
3) By Engine Type: Electric, Engine Powered
4) By End User: Rental, Construction And Building, Mining, Transportation And Logistics, Landscaping And Orchard Work, Other End Users
Subsegments:
1) By Articulating Boom Lifts: Electric Articulating Boom Lifts, Diesel Articulating Boom Lifts
2) By Telescopic Boom Lifts: Electric Telescopic Boom Lifts, Diesel Telescopic Boom Lifts
3) By Straight Boom Lifts: Fixed Boom Lifts, Variable Reach Boom Lifts
4) By Genie Boom Lifts: Genie Articulating Boom Lifts, Genie Telescopic Boom Lifts
5) By Towable Boom Lifts: Manual Towable Boom Lifts, Self-Propelled Towable Boom Lifts
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What Are the Primary Drivers Shaping the Boom Lifts Market?
The boom lifts market is poised to grow alongside the escalating demand for construction activities. In any type of construction work, which covers modifying, building, repairing, planning, purchasing, and designing both private and public structures, boom lifts play a critical role. This is mainly due to their enhanced flexibility and safety, thus increasing their need in construction activities. As an example, Atradius, a Netherlands-based company that specializes in trade credit insurance, surety, and collections services, predicted in March 2024 that global construction will increase by 2.0% in 2024, up from 3.7% in 2023. Advanced economies are forecasted to have a growth of 1.8%, while emerging markets should see construction activities rise by 2.2%. Growth in non-residential output and civil engineering is predicted to be 2.8% and 4.4% respectively in the same year. In 2025, the global construction market is likely to expand by 1.8%, with residential construction output recovering by 2.4% amid improved economic conditions and relaxed monetary policies. This escalating demand for construction work is catalyzing the growth of the boom lifts market.
Which Companies Are Leading in the Boom Lifts Market?
Major companies operating in the boom lifts market include Kobelco Construction Machinery Co. Ltd., XCMG Group (Xuzhou Construction Machinery Group Co. Ltd., Sany Group, JLG Industries Inc., Linamar Corporation, Changsha Zoomlion Heavy Industry Science & Technology Development Co. Ltd., Terex* Corporation, Altec Industries Inc., Manitou Group, Tadano Ltd., Haulotte Group, Zhejiang Dingli Machinery Co. Ltd., Aichi Corporation, Manitex International Inc., Niftylift Limited, Palazzani Industrie S.p.A., Teupen Maschinenbau GmbH, Dinolift Oy, Socage S.r.l., Holland Lift International BV, Leguan Lifts Oy, Platform Basket s.r.l., Falcon Lifts ApS, Galmon Equipment & Construction Company Limited, Furukawa UNIC Corporation, ASPAC Group, MEC Aerial Work Platforms, CTE S.p.A., Oil & Steel S.p.A., Denka Lift Ltd.
What Are the Major Trends Shaping the Boom Lifts Market?
The rise in technological innovation is a notable trend in the boom lifts market. Major players are focusing on creating state-of-the-art products to solidify their market presence. For instance, a UK-based manufacturing company, JCB, introduced its first diesel-powered telescopic boom platform, the T 65D, to the Indian market in August 2024. This product aims to elevate productivity and guarantee safety across diverse industries. The T 65D's key features include a peak platform height of 65 feet 4 inches and a horizontal extension of 56 feet 6 inches, making it optimal for operations at high altitudes. Further, it can support a maximum weight of 450 kilograms, catering to the transportation of substantial equipment and materials. The T 65D is equipped with a self-leveling technology named 670SJ, designed to adapt the lift's chassis according to ground conditions and manage uneven terrains, thus enhancing productivity during the workday.
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What Are the Top Revenue-Generating Geographies in the Boom Lifts Market?
North America was the largest region in the boom lifts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global boom lifts market report during the forecast period. The regions covered in the boom lifts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Boom Lifts Market?
2. What is the CAGR expected in the Boom Lifts Market?
3. What Are the Key Innovations Transforming the Boom Lifts Industry?
4. Which Region Is Leading the Boom Lifts Market?
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